First of all, do you have a BlueRay disc player in the computer, or just a DVD player? Also, from what I can tell, WinDVD 5 only supports DVD playback, not BlueRay. That may be why it's seeing "protected content". It just doesn't recognize the disc. If you do have a BlueRay player, you may need to upgrade to a newer version of WinDVD, or try some other software.
Answers & Comments
First of all, do you have a BlueRay disc player in the computer, or just a DVD player? Also, from what I can tell, WinDVD 5 only supports DVD playback, not BlueRay. That may be why it's seeing "protected content". It just doesn't recognize the disc. If you do have a BlueRay player, you may need to upgrade to a newer version of WinDVD, or try some other software.